More travel executives get their mission-critical industry news from Skift than any other source on the planet.Tell me more
There are several reasons for Starwood Property Trust CEO Barry Sternlicht to be optimistic with the hotel industry. Convention hotels aren’t one of them, apparently.
In a departure from what CEOs at hotel companies like Hilton and Hyatt said earlier this week, Sternlicht predicts an uncertain, long road ahead for some of the biggest hotels in the U.S.
“What we’re most worried about are the Marriott Marquis of the world,” Sternlicht said on a Thursday investor call of the brand known for its often more than 1,000-room hotels. “It’s going to be a while for those businesses to come back.”
Operator
Greetings. Welcome to the Starwood Property Trust first-quarter 2021 earnings conference call. [Operator instructions] Please note, this conference is being recorded. I will now turn the call over to your host, Zach Tanenbaum, director of investor relations.
Zach Tanenbaum
Director of Investor Relations
Thank you, operator. Good morning, and welcome to Starwood Property Trust earnings call. This morning, the company released its financial results for the quarter ended March 31, 2021, filed its Form 10-Q with the Securities and Exchange Commission and posted its earnings supplement to its website. These documents are available on the investor relations section of the company s website at www.starwoodpropertytrust.com.
(0)
MANCHESTER,
England, May 6, 2021 /PRNewswire/ SH Hotels & Resorts announced that it will open its award-winning Treehouse Hotel in Manchester, the brand s second UK location, in 2023. Treehouse Hotel Manchester, owned by a controlled affiliate of Starwood Capital Group, is being developed in partnership with Property Alliance Group and will mark the first phase of a £200m redevelopment of the former Renaissance Hotel on Deansgate.
Treehouse Hotels celebrates the joy of youth, of freedom, of fun, of dreams, and friends, real and imaginary. In a Treehouse you leave the everyday and enter a world of your own imagination. The wondrous, childhood feeling of climbing into a treehouse and making up your own rules. Designed to appeal to the youthful spirit in all of us, Treehouse Hotel Manchester will be fun, fresh, and fabulous inspired by life s joys. The hotel is being designed in collaboration with UK-based 93ft to restore the building, incorporating an organic aesthetic to
Earnings Scheduled For May 6, 2021 benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Starwood Property Trust: Q1 Earnings Snapshot
May 6, 2021
FacebookTwitterEmail
GREENWICH, Conn. (AP) Starwood Property Trust Inc. (STWD) on Thursday reported first-quarter net income of $111.4 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Greenwich, Connecticut-based company said it had net income of 38 cents. Earnings, adjusted for one-time gains and costs, came to 50 cents per share.
The commercial real estate investment trust posted revenue of $287.2 million in the period.
Starwood Property Trust shares have climbed 31% since the beginning of the year. The stock has increased 87% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on STWD at https://www.zacks.com/ap/STWD